Where do Reputations Come From?

Abstract

Whether in times of crisis or prosperity, a company's reputation must be nurtured carefully and managed to maximize long-term success. While this statement sounds simple, even obvious, its implications are far-reaching. Some firms, albeit a limited number, have appointed a Chief Reputation Officer whose specific job role is to manage the company's reputation. In other firms, the CEO may take on the mantle of managing the company's reputation. In still other firms, outside observers are left to wonder whether anyone has taken the company's reputation into consideration when developing strategies, much less sought to manage the company's reputation. Companies that are the most successful at managing their reputations, though, are ones where CEOs consider themselves reputation stewards and instill the need to protect their company's reputation in all employees.